Every employee is a key employee. As a benefits professional you are always seeking new business. This often means getting a business that is someone else's key client to become your key client. You are not alone. You have a team or office supporting you. Competitors are doing their best to persuade some of your key employees to become their key employees. How can you create an environment when they hang up the phone on those calls from competitors?
Strategy #1: Pay more money
It's often assumed people move because someone else offered them more money. The knee-jerk reaction is to offer your team member more money to stay. You tell them how they are an integral part of the team. They wonder, "If I'm so important, why didn't you offer me more money before?" Meanwhile, industry publications conduct surveys and run articles listing average salaries for different job descriptions in metro areas. This strategy can work, but there are alternatives.
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
